HRERA issues notice to freeze bank accounts of Mahira Infratech

Following the cancellation of a licence of a housing project in Sector 68 and blacklisting four other projects being developed by Mahira Infratech Ltd (formerly known as Sai Aaina Farms Pvt Ltd), the Haryana Real Estate Regulatory Authority (HRERA) Gurugram on Friday said it has issued a notice to freeze all bank accounts associated with the real estate firm

Following the cancellation of a licence of a housing project in Sector 68 and blacklisting four other projects being developed by Mahira Infratech Ltd (formerly known as Sai Aaina Farms Pvt Ltd), the Haryana Real Estate Regulatory Authority (HRERA) Gurugram on Friday said it has issued a notice to freeze all bank accounts associated with the real estate firm.

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On May 9, the department of town and country planning (DTCP) cancelled the licence of the housing project in Sector 68 being developed by Mahira Infratech alleging the developer had submitted forged bank guarantees, licence agreements and other documents to obtain the licence for the project. Following more such revelations, the department blacklisted four more projects of Mahira group and asked HRERA to freeze the bank accounts of the firm.

HRERA officials said it had registered various affordable group housing projects associated with the Mahira Group namely Mahira Homes-103 developed by Mahira Buildtech Pvt. Ltd, Mahira Homes in Sector 63A, Mahira Homes 95 and Mahira Homes 104 being developed by Czar Buildwell Pvt Ltd.

In a statement issued on Friday, officials said they have asked the lead district manager to furnish the details of bank accounts, along with statements of all accounts, associated with the promoters of Mahira group.

“Many people have parked their funds and invested their stakes in the project. Hence, the company’s bank accounts were frozen to safeguard the interest of the buyers,” said KK Khandelwal, chairman of HRERA, Gurugam.

Meanwhile, the DTCP said they have sought directions from the headquarters in Chandigarh regarding the payments that the homebuyers have given to the Mahira developer. “We have also sought directions on the issue of payments that the homebuyers have given to the developer for the blacklisted projects; they are now asking that the payments be returned to them. The department has also decided to inspect these projects to assess the status of construction,” said senior town planner Sanjeev Mann.

He further added that a number of buyers have complained that the pace of work at the blacklisted projects is slow while the developer is still making demands for installments.

A spokesperson for the developer said that they will appeal against the decision of the DTCP and HRERA and submit valid documents. “We are committed to delivering homes to our buyers. We will appeal in this matter,” said the spokesperson.